Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Gold miners Dacian have exceeded ore production expectations at its Mt Morgans gold project in WA
  • Executive Chairman Rohan Willians said during July the company produced over 16,000 ounces
  • Dacian’s share price jumped 16.89 per cent today, currently sitting at $1.32 per share at today’s market close

Dacian Gold has defied the odds in today’s trade, with the company’s share price jumping 16.89 per cent, while many of its mining counterparts suffered.

The company told this market this morning operations at its Mt Morgans project in Western Australia are faring better than expected.

Executive Chairman of Dacian Rohan Williams said: “It is pleasing to start the 2020 financial year with a plus 16,000-ounce month”.

“Importantly the mill to claimed production reconciliation was excellent at 102 per cent, again confirming the goof correlation between grade control models and mill production,” Rohan added.

In July, the total mined ore grade at its Westralia prospect increased to 3.5 grams per tonne from 2.5 grams per tonne in June.

Targets were met at the Beresford South, Beresford North and Allanson prospects, while operational benchmarks for the month were boosted as total ore movement from the underground and open-pit mines met expectations.

Production at Mt Morgans is expected to fall between 150,000 and 170,000 ounces during the 2020 financial year. 45 per cent of production is forecast to occur in the first half of the financial year and 55 per cent in the second half.

Dacian’s share price increased to $1.32 apiece at today’s market close.

DCN by the numbers
More From The Market Herald

" St George Mining (ASX:SGQ) moves to diamond drilling at Paterson

St George Mining (SGQ) has kicked off diamond drilling at its Paterson project in the Pilbara region of Western Australia.
The Market Herald Video

" Maximus Resources (ASX:MXR) continues high-grade gold finds at Wattle Dam

Maximus Resources (ASX:MXR) has continued its high-grade gold finds at the Wattle Dam project in Western…
The Market Herald Video

" Marmota (ASX:MEU) expands Aurora Tank drilling program

Marmota (ASX:MEU) expands its drilling program at the Aurora Tank gold project in South Australia.

" Genmin (ASX:GEN) grows Baniaka resource by 168pc

Genmin (ASX:GEN) reports a significant increase to the mineral resource estimate at its wholly owned Baniaka…